Giverny Capital Inc. Has $36.50 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Giverny Capital Inc. lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 16.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 171,775 shares of the semiconductor company's stock after selling 34,336 shares during the period. Analog Devices comprises 1.3% of Giverny Capital Inc.'s portfolio, making the stock its 26th largest holding. Giverny Capital Inc.'s holdings in Analog Devices were worth $36,495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADI. Broderick Brian C increased its holdings in Analog Devices by 2.6% during the 4th quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock valued at $16,831,000 after acquiring an additional 2,017 shares in the last quarter. Curbstone Financial Management Corp purchased a new position in shares of Analog Devices during the fourth quarter valued at approximately $460,000. Czech National Bank boosted its holdings in shares of Analog Devices by 6.5% during the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company's stock worth $22,871,000 after purchasing an additional 6,566 shares during the last quarter. Synergy Asset Management LLC grew its holdings in Analog Devices by 11.1% in the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company's stock valued at $5,404,000 after purchasing an additional 2,554 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new stake in Analog Devices during the third quarter valued at about $20,194,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares of the company's stock, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,809 shares of company stock valued at $6,154,756 over the last three months. Insiders own 0.33% of the company's stock.

Analog Devices Price Performance

NASDAQ ADI traded up $0.34 on Friday, reaching $176.27. 3,341,234 shares of the stock traded hands, compared to its average volume of 3,459,664. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm's fifty day simple moving average is $206.55 and its 200 day simple moving average is $214.66. The company has a market cap of $87.43 billion, a price-to-earnings ratio of 56.14, a P/E/G ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the previous year, the business earned $1.73 earnings per share. Analog Devices's revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 2.25%. Analog Devices's dividend payout ratio (DPR) is currently 126.11%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Maxim Group began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating on the stock. Williams Trading set a $245.00 price target on Analog Devices in a report on Friday, February 14th. Citigroup decreased their target price on Analog Devices from $265.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, April 11th. UBS Group lifted their price target on shares of Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.05.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.